In mid-June, sixteen representatives of local businesses and governments in Utah penned a letter advocating for the state’s clean energy industry to Senators John Curtis (R-UT) and Mike Lee (R-UT) and Representatives Blake Moore (R-UT-01), Celeste Maloy (R-UT-02), Mike Kennedy (R-UT-03), and Burgess Owens (R-UT-04). “As the leaders of some of Utah’s best-known companies, we write today about the future of energy in Utah. As you finalize the emerging tax bill, we encourage you to enact policies that will prioritize economic growth, abundant power generation, and avoiding harm to Utah businesses,” they wrote in the letter, published in the Deseret News.
In May, the U.S. House passed its version of the budget reconciliation bill, which took an ax to the clean energy tax credits that have done so much for Utahns. “We are concerned that drastic changes to federal tax policy will negatively impact Utah businesses that are building the power generation we desperately need,” the signatories explained. “Sudden changes to energy tax credits that do not allow businesses sufficient time to plan and adjust operations will harm not only Utah businesses and thousands of jobs, but also our ability to achieve Project Gigawatt and maintain our state’s economic growth.” The Senate is currently preparing their version of the bill.
Utah has been on the forefront of clean energy growth. Last year, Utah Governor Spencer Cox unveiled Operation Gigawatt at the One Utah Summit. By increasing transmission capacity, expanding and developing more energy production, enhancing energy-friendly policies, and investing in innovation and research, the initiative aims to double the state’s power production in the next decade.
Gov. Cox explained, “Operation Gigawatt is critical to preserving our quality of life and ensuring strong economic growth. It puts Utah in a position to lead the country in energy development, secure our energy future and remain a net energy exporter while diversifying and expanding our energy resources.” This is especially important “in light of Utah’s looming electricity supply crisis, driven by our growing population, artificial intelligence and other factors,” Utah’s business leaders elaborated in their recent letter.
Photo Courtesy Gov. Spencer J. Cox
“As business leaders, we know that economic growth will not happen without abundant electricity. And we know that tax incentives are a business-friendly, pro-growth tool for the free market to build out more power generation,” the signatories clarified. “This is why we are concerned about the fate of energy tax credits in the budget reconciliation bill in Congress.” They have reason to be concerned. According to the E2 and the Clean Economy Tracker, as of May, factory and project cancellations nationally have totalled $15.5 billion since January, equating to nearly 12,000 lost jobs. More than $9 billion and 10,000 jobs had been set for Republican districts.
Among the signatories was former Utah Governor Gary Herbert (R). He was joined by business leaders across numerous sectors and industries, including:
- Business and economic institutions like the Salt Lake Chamber, the Economic Development Corporation of Utah, and World Trade Center Utah;
- Financial institutions like Zions Bank and the Larry H. Miller Company;
- Home security system company Vivint;
- Real estate companies like Colliers International, Woodley Co., and Gardner Group;
- Heating, cooling, and electrical company Horizon Services;
- Renewable energy company rPlus Energies;
- Corporate expense tracking and management platform Divvy;
- Advertising, branding, and creative companies like Chase Marketing and Origin Brand Merch; and,
- Shipping, logistics, and fulfillment services company Visible Supply Chain Management.
“As our elected representatives in Congress, we respectfully urge you to work together and deliver a more thoughtful, measured approach on energy tax credits before Congress sends this legislation to the president,” these leaders concluded. “Thank you for your leadership and partnership as we pursue our shared interest in what’s best for Utah.”
Photo Courtesy rPlus Energies
